Accounts
Before visiting one of our branches for a Notary, please call the Credit Union to check on availability for that day.
Please contact us right away at 800.527.3328 to let us know of any fraud on your account. You may be required to visit one of our branches to fill out an Affidavit of Fraudulent Use of a Credit or Debit Card.
To request a change of address online, you must login to Online Banking, click on Settings in the toolbar, then click on Contact Information. If you do not have a login, you may either enroll in Online Banking or call us to make your change of address request. We can validate your request over the phone. You may also visit any LBS Financial branch to request an address change.
You may write us a letter stating the reason for your dispute, details of what transpired between you and the merchant, date(s) and signed by the account holder. You may also visit one of our branches to complete a Dispute Certification.
Provide your LBS Financial’s routing and transit number (322276855) and your account number. Specify if you want the funds credited to your Share Draft/Checking or Share Savings account.
Provide your LBS Financial’s routing and transit number (322276855) and your account number. Specify if you want your funds debited from your Share Draft/Checking or Share Savings account.
Complete our online form to place a stop payment, visit one of our branches, use Online Banking and click on Accounts, expand the view to see more detail, then click on Stop Check, or access your account through HomeTeller to place the stop.
Copies of your checks may be viewed within Online or Mobile Banking. Click here to login to Online Banking to view a copy of your paid check. There are two places to view checks: click on your Checking account from the History or Accounts page and click on the check icon next to a transaction. You will have the option to review checks for the previous 12 months. For check copies further back, click on eDocuments. If you have signed up for eStatements you can click on a check within the statement to view. If you need check copies and prefer not to use our Online Banking, you may visit one of our branches or call us. On the form there is a text box in which you can list the checks for which you want copies. We request that you provide the check number, date cleared and the amount for each. You may obtain free photocopies of two checks per statement. If you need more than two checks per statement, there is a small fee. View the most recent Fee Schedule.
Order checks online through Harland Clarke or contact us.
Please follow these instructions for all incoming wires:
Send Funds To:
FIRST CREDIT:
Farmers and Merchants Bank
Routing/ABA number 1222-0119-8
3140 East Anaheim Street
Long Beach, CA 90804
SECOND CREDIT:
L.B.S.F.C.U.
Account number #02 000040
FINAL CREDIT:
Your name
Your LBS Financial Credit Union account number and suffix
You may call or visit a branch to inform us. The primary Member will need to sign a new Membership Application and the joint owner needs to fill out a Voluntary Surrender of Account Ownership form. The Primary and Joint Owner both need to sign this form.
If eligibility requirements are met; you may click here to print and mail an application, visit a branch to fill out a new Membership Application or call one of our representatives to request one by mail. You and the new Member must both sign the Membership Application.
Just provide your employer with the LBS Financial’s routing and transit number (322276855) and your account number. Specify if you want your money to be deposited to your Share Draft/Checking or Share Savings account. Use the account numbers on the bottom of your LBS Financial check(s). Please make sure to ask your employer or issuer of the check for their specific procedures to sign up for direct deposit.
322276855
You may make a transfer by calling one of our phone representatives, visiting a branch, accessing your account by phone through HomeTeller, through Mobile Banking or through Online Banking.
Overdraft Protection is a service that allows a checking or money market savings account to be linked to another account that provides protection against returned items or overdraft. Choices can include using a savings account or a line of credit account to provide protection. When you open an Interest Checking or Free Checking with eStatement account, you have the option of signing up for Overdraft Protection using an LBS Financial Share Savings account, Special Savings, Money Market, Visa Classic or Visa Gold account.
Access your account 24/7, 7 days a week by logging on to Online Banking, through Mobile Banking or through our automated phone system, HomeTeller. You may also contact one of our representatives during business hours or visit one of our branches. Our Bixby (walk-up only), Cerritos, East Long Beach, Lakewood and Los Altos branch are open on Saturdays from 9:00 a.m. to 2:00 p.m.
Click here to request removal of the Dormant Status on your account.
Once deposited or cashed, the time it takes a check to clear will depend on several factors. If the financial institution of first deposit or the paying financial institution processes checks through a clearing bank, it may add an extra day to the time it takes for the check to be entered into the Federal Reserve Bank. If the payee’s financial institution is not local, it may add extra days to the time it takes the check to reach the paying bank. If the check is damaged so the MICR line is illegible, it may add days or weeks to the time it takes the check to reach the paying financial institution.
Many financial institutions are now converting checks into optical images that are cleared electronically. The Check 21 items can clear on the same date they are received by the payee’s financial institution. Other checks may be converted into ACH electronic items which will speed up the time it takes to clear.
Although a check is considered “Stale Dated” if it was written more than 180 days prior to presentment for deposit or payment, the paying financial institution may pay the check. A check represents a contract between the issuer of the check and the payee and there is really no time limit on when that contract expires. The payee could pursue payment of a check well beyond 180 days and even for years after the check was written.
Regulation D
Government Regulation D limits certain withdrawals and transfers on Share Savings and Money Market accounts.
The following transactions or combination of transactions to another Credit Union account of yours or third party account are limited to six or fewer each month:
- Automatic payments made via the ACH system (also known as pre-authorized electronic funds transfers) from your Share Savings accounts
- Transfers made from Regular Share and Money Market accounts made via CU OnLine (not including loan payments)
- Transfers to other deposit accounts within LBS Financial Credit Union
- Transfers from Regular Share and Money Market accounts to a Checking account to cover NSF checks
- Transfers from Regular Share and Money Market accounts made by telephone
- Transfers to a third party by check, draft or debit card
Once your Regulation D transfer count has reached six, no further automatic transfers will be made and checks are subject to return for Reg D. However, you may perform an unlimited number of funds transfers in person, at an ATM or by mail.
In order to determine whether an item will be placed on hold, it is necessary for one of our member service representatives to see the actual check item. You will be notified of any applicable holds.
There are a variety of reasons that a hold may be placed on your funds. Holds are placed on deposits involving checks to ensure that the deposited checks pay before funds are released. If a check is dishonored by the paying bank, the hold ensures that the funds are still in your account when the deposit is deducted. When you accept a check from anyone, it is subject to final payment and your responsibility, not the Credit Union’s, to collect from the person who wrote the check should it come back unpaid. Holds can be placed on unverified ATM deposits and Shared Branch deposits. If we are alerted that a check is coming back unpaid, a hold will be placed on your account for the amount of the check. If we suspect fraudulent activity is occurring, holds may be placed to safeguard your funds. Holds are also placed on funds when we are served with a levy or other legal notification
Click Here to review our current Fee Schedule.
There is no fee for our Free Checking with eStatements account. Our Interest Checking account has a $3.00 monthly fee which is waived if you maintain an average daily balance of $500 in Interest Checking or an average daily balance of $2,000 in combined accounts under the same account number.
LBS Financial assesses a $3.00 monthly fee for the Interest Checking account to cover the costs associated with managing your account. The fee is waived if you maintain an average daily balance of $500 in Interest Checking or an average daily balance of $2,000 in combined accounts under the same account number. You may also sign up for our Free Checking with eStatements account. This totally free account has no minimum balance or other requirements with the exception of receiving eStatements (in lieu of paper statements).
You may click here to open an account online or visit one of our branches with a copy of your Driver’s License and a $5 Share Savings Account deposit and $1 membership fee.
Click here to visit our membership eligibility page
Yes. Please mail your deposit or loan payments to:
LBS Financial Credit Union
Attention: Central Mail Processing
P.O. Box 4860
Long Beach CA 90804
You may perform transactions 24 hours a day, 7 days week by using our automated phone banking, HomeTeller or you may speak to one of our representatives during normal business hours.
You may visit our Bixby Knolls, East Long Beach or Newport Mesa branch to conduct routine transactions through the CO-OP Shared Branch network.
Credit unions are so unique that they work together to provide access to nearly 30,000 no surcharge CO-OP ATMs, including Costco throughout the U.S. and Canada. A CO-OP ATM is like an extension of LBS Financial Credit Union, providing you with easy access to your account without surcharges or fees.
Click here for our branch hours and locations.
Auto Loans
When LBS Financial obtains your credit score during the pre-approval process, the Credit Union will determine your loan rate based on your past financial history and credit. Take note that the Credit Union must obtain your credit report personally; they will not accept copies of credit reports from third parties.
Fill out an online application, or come see us at any branch.
We process most applications within one business day. Applications received over the weekend or holidays are processed the next business day. You may check your status by calling us.
LBS Financial will release the lien and the DMV will print and mail the title to the last known address of the person with the loan.
Yes. On time payments mean a higher credit score. LBS Financial reports borrower, co-borrowers, guarantors, and co-signers payment habits to all three major credit bureaus: Experian, Equifax and TransUnion.
You have options. You can use our Mobile or Online Banking services to pay from one of your accounts at LBS Financial. Use Mobile Deposit within Mobile Banking to take a picture of a check from your other financial institution and apply to your loan payment here. You can also transfer money from another financial institution using LBS Autopay or a number of Bill Pay services from other financial institutions. Mail us a payment or call and pay by phone, just keep in mind there are fees for paying by phone.
For a loan pre-approval good for up to 60 days, apply online, visit any branch, or give us a call.
Bill Payment
It’s easy! Just log into Online Banking, click the Bill Payment link on the left menu, click on Enrollment Options, and then follow the steps.
Once your enrollment is received and processed you’re ready to start enjoying the convenience of Bill Payment.
The CheckFree Bill Payment program is focused on making your payment on time, every time. CheckFree assumes the risk in paying your bill, whether or not the funds are available in your account. In the case of the payee receiving a paper check, CheckFree will mail the check prior to your due date to ensure it arrives on time and will not debit your account for that check until the due date. If your payee receives payments electronically, CheckFree will credit the payee on the due date you have indicated and then debit your account on the same day. If there are non-sufficient funds in your account, you will be responsible for an NSF fee. Your account could receive up to two NSF fees as CheckFree attempt to debit your account once more the following business day. CheckFree will attempt to recover the funds from your payee. If CheckFree is unable to recover the payment, your bill pay privileges will be frozen until you have paid them the money you owe them. Please review our Fee Schedule for current NSF and Uncollected Funds fees.
Yes! If you have not already, we recommend that you set up overdraft protection on your account. If you pay a bill and have non-sufficient funds to cover the bill, you are subject to the same NSF fee as if you wrote a check and didn't have the funds to cover it. With overdraft protection, you can protect your account from non-sufficient funds by using your Share Savings, Money Market, another checking account or Visa to back up your Checking account. Contact the Credit Union to set up your overdraft protection.
- When you set up a payee in Bill Payment, you will have the option to set up E-Bills. To add E-Bills to an existing payee, go to the Payment Center (Bill Payment home page). Within the Payment Center and the "Pay a Bill" box, you'll see a list of payees. To the left of each payee name, an icon that says “Get Bill” will appear if an E-Bill is available.
- Please note that you'll no longer receive a paper bill if you opt into E-Bills. However, you can print your E-Bill statement for your records.
No, you can simply shred or destroy it. Our system provides all the necessary information to your payee. We encourage you to try our E-Bills, which are available through Bill Payment on some of your payees. You will see a "Get Bill" icon next to those payees. This will help you eliminate the paper bills coming to you in the mail.
Contact our Bill Payment provider, CheckFree, directly at 800.877.8021 between 4 am to 10 pm PT seven days per week. CheckFree guarantees payment of your bill by the payment date you indicate.
Recurring payments are automatic payments of the same amount. You do not have to re-enter a new payment each month. These payments can be scheduled for one of several frequencies:
- Weekly, every 2 weeks, monthly, every 2 months, every 3 months, every 6 months, annually
Yes, you can review, change, or cancel a payment at any time before it is processed. Payments may be processed up to 5 days in advance of the payment due date entered by the user.
This is our current payment schedule:
- Payments to electronic payees are delivered in 2 days
- Payments issued by check are delivered in 5 days
- When you schedule a payment, the payment calendar indicates the earliest available payment date
- Approximately 77% of payments to businesses receive payments electronically
That depends on whether the payee receives electronic payments or checks. Electronic payments post in 2 business days. Payees that receive payments by check will display as having a lead time of 5 days. Once the checks are mailed, we have no control over how long it takes your payee to debit your account. Paper checks may clear earlier than the pay date selected by the account holders(s) since they may be deposited by the payee upon receipt.
As long as you access the Bill Payer service at least once every 12 months, your billers and payment history will remain active and available.
Most payments to major billers and utility companies are sent electronically. These payments will typically be withdrawn from your account on the same date you select for the biller to receive your payment. Other payments are sent via a paper check drawn on your account. The checks will generally debit your account a couple of days following the date the check is deposited/cashed by your biller. These types of payments are typically for smaller merchants such as a gardener, pool cleaning service, medical bill, etc. Please note that paper checks may clear an account earlier than the account holder anticipated (including earlier than the pay date selected by the account holder), since they may be deposited by the payee upon receipt.
Most paper check payments are cleared through your account and you will be able to view these check images within Online Banking and print them. The easiest way to find copies of these checks is by finding the transaction by clicking on History, then finding the transaction and clicking on the check icon to view the check. You may also enter the check number to search for it in the box above your transaction history. If you cannot find a copy of your check, the Credit Union still may be able to provide it. Just call the Credit Union (800.527.3328) and ask for copies of the check. Please refer to our Fee Schedule for our check copy fees
If your payment has not yet been sent by CheckFree to your biller you should see a “Cancel” button next to the payment. There’s no fee to stop the payment by clicking the cancel button. If the cancel button is not showing next to the payment, call the Credit Union directly to stop the payment (800.527.3328). Stop payments on transactions that have already been sent to the biller are subject to the Credit Union’s stop payment fee.
You can make payments to virtually any business or individual in the United States. Exceptions include:
- Tax payments
- Court ordered payments
- Payment to payees outside of the United States
- Payments to other institutions for the purpose of making a deposit
Bill Payment is fully secure. It is recommended by security experts over paper bills to help protect against check fraud and identity theft.
SSL (secure sockets layer) and 128-bit encryption ensures that your connection and information are secure from outside inspection, making information unreadable as it passes over the Internet
This security protects your use of all the products offered in Online Banking (Bill Payment, eStatements, PayPal, and Popmoney).
If you have an account with us, your routing number is 322276855.
College Students
Yes. Every Member must open a Share Savings account which becomes their Membership account at the Credit Union. Our Share Savings account requires a minimum deposit of $5, plus a one-time membership fee of $1 (per Member on the account). You must maintain the $5 minimum balance to keep your Membership in good standing. For Free Checking with eStatements, there is a $20 opening deposit (no minimum balance thereafter).
We will send monthly paper statements or eStatements for Members with checking accounts. If you do not have a checking account, you will receive quarterly paper statements or eStatements unless you make electronic withdrawals or deposits (ACH) or have ATM activity associated with this account in a given month. Then we will send you a monthly statement.
Coverdell ESA
This account can be opened at any of our branches. Just stop by and we'll get you set up.
E-Bills
Most Payees/Billers will use their established billing cycle, so you can expect to receive your bill at approximately the same time of the month that you currently receive your paper bill.
When you log on, you'll see the number of new E-Bills, statements, and notices you've received. You'll also receive a reminder email to notify you of new E-Bills in your account mailbox if they have not been viewed within four days of delivery.
You will no longer receive a paper bill. However you can print a paper copy of any E-Bill, if you like. Your bills, statements, and notices are available online for six months from their arrival date. Contact your financial institution/payee directly for records after six months.
- When you set up a payee in Bill Payment, you will have the option to set up E-Bills. To add E-Bills to an existing payee, go to the Payment Center (Bill Payment home page). Within the Payment Center and the "Pay a Bill" box, you'll see a list of payees. To the left of each payee name, an icon that says “Get Bill” will appear if an E-Bill is available.
- Please note that you'll no longer receive a paper bill if you opt into E-Bills. However, you can print your E-Bill statement for your records.
eStatements
Statements, tax documents, and billing notices are currently available within eStatements. You can choose which ones you prefer to remain paper or make them all electronic!
If you switch from paper statements to electronic statements, you will no longer receive a paper statement in the mail. You may always switch back to paper statements if you change your mind.
If you have already registered for eStatements: click on eDocuments in the top left toolbar within Online Banking. Documents are stored here for up to 18 months.
If you have not registered for eStatements: click on eDocuments and switch to electronic for any documents on the list. Then, make sure to read the PDF disclosure, copy the code from the disclosure and paste in the box and accept terms. Once you agree, you will have access to the system. You will not have an eStatement ready for you until the next statement period.
Home Equity Line of Credit
There are three ways you can start the process: apply online, call 800.527.3328 and ask to speak to one of our loan experts, or call us to schedule a visit with a loan expert at one of our branches.
Both loans use the value in your current home to secure a low rate. A Home Equity Loan is paid out as one large sum, whereas a HELOC approves you for a limit that works similar to a line of credit or credit card, which you can then borrow from here and there as you need it (you'll only pay interest on what you actually borrow). A Home Equity Loan is great if you know exactly how much you want to borrow; a HELOC might be a better choice if you have ongoing expenses.
It depends on the value of your home and any current loans outstanding. Get pre-approved online today and start the process.
Home Equity Loans
There are three ways you can start the process: apply online, call 800.527.3328 and ask to speak with one of our loan experts, or call us to schedule an appointment to meet with a loan expert at one of our branches.
Both loans use the value in your current home to secure a low rate. A Home Equity Loan is paid out as one large sum, whereas a HELOC approves you for a limit that works similar to a line of credit or credit card, which you can then borrow from here and there as you need it (you'll only pay interest on what you actually borrow). A Home Equity Loan is great if you know exactly how much you want to borrow; a HELOC might be a better choice if you have ongoing expenses.
It depends on the value of your home and any current loans outstanding. Get pre-approved online today and start the process.
Comparing the features of each loan will help you reach the best decision:
| Cash-Out Refinance | Home Equity Financing |
|---|---|
| One loan and one monthly payment | Choose between a one-time loan advance or a revolving line of credit. |
| Your existing mortgage is refinanced for a higher overall amount using some of the accumulated equity in your home | You can borrow all or part of your home's equity. |
| Get immediate cash and spread the payments out over a longer timeframe | Flexibility of a shorter term to help build equity faster OR reduced monthly payments by spreading the cost over a longer term. |
| Usually a lower interest rate than home equity financing | You can borrow more money - sometimes up to 90% of the value of your home. With a line of credit, interest is paid only on the money you actually use, and you can access it whenever you want without having to reapply. |
Home Purchase
The meeting will last approximately 1 hour and will be held either at the Escrow Company’s office or a Notary may come to your home. The steps below explain what happens during and after closing:
- The respective closing agent reviews the settlement sheet with you.
- You sign all loan documents.
- You then present a certified or cashier's check to pay closing costs (if applicable).
- If your monthly payments are to include property taxes and insurance, a new escrow account (or reserve) is opened when the loan is funded.
- The loan is funded by the Lender. The funds are transferred to the Escrow, who in turn, instructs the Title company to set up recording of the documents. The Deed and any other documents are usually recorded the following day. Once recording is confirmed, the Escrow agent can disburse funds for any payoffs. Remaining funds are sent to you with the HUD Settlement Statement.
Prior to the closing, our Residential Lending Department closer will contact you to let you know the amount of funds you must bring to the Closing Meeting. Personal checks are not accepted--cashier's checks only.
The closing (or settlement) of the loan is an actual meeting that takes place at the Escrow Office, one of our branches, or the escrow's signer can come to your home or place of employment. At that time, you'll be asked to sign the closing documents and pay any outstanding closing costs you are responsible for.
If you are a first time home buyer and your home loan exceeds 80% loan to value, you will be required to purchase Mortgage Insurance and attend a First Time Home Buyers Seminar. You can learn more about home buying and take the First Time Home Buyers test online. Be sure to enter the Buyers Ed Code: homeloans@lbsfcu.org.
That depends on you and your current financial situation and long term financial goals. The following is a brief analysis of each type of loan, and the benefits of choosing one type over another.
- Fixed Rate Loans
Fixed Rate Loans, by their very nature, are the most stable of the loan categories. With interest rates and payments fixed over the life of the loan (generally 15, 20 or 30 years), homeowners can rely on knowing exactly what their housing costs will be each and every month. If it is important to you to have your rate and payment constant, or if you plan to be in this home for a long period of time without moving, a fixed rate loan may be the best option for you. See Mortgage Loan Rates. - Adjustable Rate Mortgages (ARMs)
Adjustable Rate Mortgages (ARMs), conversely, often offer low start rates that then change with the marketplace. It is the low start rate that makes ARMs more attractive to many borrowers. An ARM is a great option if you are planning to move from this home within a few years. By having a low start rate, borrowers benefit from increased buying power, with the ability to afford a higher loan amount than with many fixed rate loans. Buyers, however, need to keep in mind that the rates can change dramatically once the fixed-rate period ends. Even with pre-set life caps, which limit how much the rate can "adjust," rates can increase substantially. See Mortgage Loan Rates. - Fixed/Adjustable Combination Loans
Fixed/Adjustable Combination Loans are described by many as the "best of both worlds." These loans enable borrowers to enjoy the stability of a fixed rate loan during the early years of the loan, while also experiencing the increased buying power of an ARM. Start rates on this type of mortgage are often lower than standard fixed rate loans. Fixed/adjustable combination loans are often ideal for individuals who anticipate earning greater income during the later years of the loan, but would benefit from a lower payment in the beginning. See Mortgage Loan Rates
PMI is a necessary expense when you buy a house with less than a 20% down payment. PMI is additional insurance written by a private company protecting the mortgage lender from mortgage default.
Plan on 1%-3% of the market value of your home. For example, if your home has a market value of $500,000, property taxes might be $5,000 to $15,000, depending on where you live. If your property is located in a Mello Roos bond area, property taxes may be affected. Ask your LBS Financial loan specialist about your specific property area.
A ratio of the amount of money you wish to borrow compared to the value of the property you wish to purchase. An 80% LTV on a $100,000 property would equal an $80,000 loan. The property value is determined by either the appraised value or the purchase price, whichever is less.
A neutral party who holds the legal documents and funds on behalf of a seller and buyer or a lender and a borrower, until the parties have satisfied all of the conditions to "close."
A fee collected by the lender for allowing you to borrow money to purchase or refinance property. The fee--also known as "points" is usually expressed as a percentage of the total loan amount. One point equals 1% of the loan amount.
Here is a list of the information you should collect and have ready once you accept our Loan Estimate (following the application). Original documentation, when requested, is preferred and will be returned to you promptly.
| Category | Sub-category | Brief Description |
|---|---|---|
| Loan Application | Loan application form | Loan application form signed and dated by all applicants |
| Income documentation |
|
|
| Self-employed | Most recent two full years of tax returns (individual, corporation, or partnership) | |
| Retired |
|
|
| Other Income | Other income requirements | If Other Income is needed to qualify for the loan, supporting documentation and history of receipt may be a requirement. |
| Assets | Evidence of sufficient funds when closing |
|
| Obligations | Evidence of financial obligations (debts) | Copy of the fully-executed Divorce Decree indicating amount of child support, alimony, or separate maintenance payments |
| Property | Documentation |
|
Visit the Home Loans section of our website for details about the products and services we offer. We offer online pre-approvals, rates and detailed information within this section and our Mortgage Web Center.
Wise investors usually order a credit report to review its accuracy. This step gives them a chance to address any errors or mishaps before approaching the lender. As part of the process, LBS Financial will eventually order your credit report, so it's a good idea to address it beforehand so as to avoid delays. Note that LBS Financial cannot use the credit report you have obtained and will need to order a credit report as well.
The meeting will last approximately 1 hour and will be held either at the Escrow Company’s office or a Notary may come to your home. The steps below explain what happens during and after closing:
- The respective closing agent reviews the settlement sheet with you.
- You sign all loan documents.
- You then present a certified or cashier's check to pay closing costs (if applicable).
- If your monthly payments are to include property taxes and insurance, a new escrow account (or reserve) is opened when the loan is funded.
- The loan is funded by the Lender. The funds are transferred to the Escrow, who in turn, instructs the Title company to set up recording of the documents. The Deed and any other documents are usually recorded the following day. Once recording is confirmed, the Escrow agent can disburse funds for any payoffs. Remaining funds are sent to you with the HUD Settlement Statement.
There are three ways you can start the process: apply online, call 800.527.3328 and ask to speak with one of our loan experts, or call us to schedule an appointment to meet a loan expert at one of our branches.
Home Refinance
The closing (or settlement) of the loan is an actual meeting that takes place at the Escrow Office, one of our branches, or at your home or place of employment. At that time, you'll be asked to sign the closing documents and pay any outstanding closing costs you are responsible for.
To help speed up a refinance requiring standard processing, here is a list of the information you should collect and have ready to provide once you accept our Loan Estimate (following the application). Original documentation, when requested, is preferred and will be returned to you promptly.
| Category | Sub-category | Brief Description |
|---|---|---|
| Loan Application | Loan application form | Loan application form signed and dated by all applicants |
| Income documentation |
|
|
| Self-employed | Most recent two full years of tax returns (individual, and corporation, or partnership) | |
| Retired |
|
|
| Other Income | Other income requirements | If Other Income is needed to qualify for the loan, supporting documentation and history of receipt may be a requirement. |
| Assets | Evidence of sufficient funds when closing |
|
| Obligations | Evidence of financial obligations (debts) | Copy of the fully-executed Divorce Decree indicating amount of child support, alimony, or separate maintenance payments |
| Property | Documentation |
|
Wise investors usually order a credit report to review its accuracy. This step gives them a chance to address any errors or mishaps before approaching the lender. As part of the refinance process, LBS Financial will eventually order your credit report, so it's a good idea to address it beforehand. Note that LBS Financial cannot use the credit report you have obtained and will need to order a credit report as well.
At LBS Financial, you'll find a number of home loans for every type of refinance. The goal here is to match the benefits of a specific loan type with your goals. So, let's first look at your goals or needs:
| Your Situation | Consider the following strategy |
|---|---|
| Have little cash | Equity loan |
| Need low closing costs | Ask about our no closing cost options |
| Want to lower your rate and payment but plan to stay over 5 years | Fixed rate loan |
| Want to lower your rate and payment and sell within 5 years | ARM |
| Add a room or other home improvements | Equity cash-out refinance or Home Equity Line of Credit |
| Want to avoid monthly private mortgage insurance | Loan-to-value at 80% or less on 1st mortgage |
| Financing a 2nd home (vacation) | 30-year fixed-rate |
| Want consistent monthly payments | Fixed-rate loan |
Our LBS Financial loan specialist will be happy to go over the options in more detail. Give us a call or visit a branch today.
You can usually lower the rate by paying more points. Points are fees paid to the lender at closing. Each point is equal to 1% of the loan amount. For a $100,000 loan, a point equals $1,000. Two points would be $2,000. If you have the cash, it's a good way to save money on interest over the life of your loan.
Below is a chart showing all of the types of potential closing costs associated with a home loan and which fees may be charged by LBS Financial, depending on your loan type:
| Customary Fees & Charges | LBS Financial |
|---|---|
| Loan origination fees | If applicable |
| Loan discount/origination points | If applicable |
| Application/processing/underwriting fees | Yes |
| Document preparation fees | Yes |
| Appraisal fees | Yes |
| Credit report fees | Yes |
| Mortgage insurance | If applicable |
| Tax service | If applicable |
| Flood determination fee | Yes |
| Escrow fees | Yes |
| Attorney fees | No |
| Abstract or title fee | If applicable |
| Title insurance | Yes |
| Recording fee and transfer taxes | Yes |
| Notary fee | Yes |
| Survey fee | No |
During a refinance, you may have costs for adjustments or prorations. These are called pre-paid costs, such as property taxes, prepaid interest, and homeowner hazard insurance.
Yes! Provide our LBS Financial loan specialist with the details of your first and second mortgages, and we will present the potential options for consolidating your mortgages. Or apply online now!
Yes! Credit cards, car loans, student loans, revolving credit and other debts can be consolidated. An LBS Financial loan specialist will present the potential options for debt consolidation.
Comparing the features of each loan will help you reach the best decision:
| Cash-Out Refinance | Home Equity Financing |
|---|---|
| One loan and one monthly payment | Choose between a one-time loan advance or a revolving line of credit. |
| Your existing mortgage is refinanced for a higher overall amount using some of the accumulated equity in your home | You can borrow all or part of your home's equity. |
| Get immediate cash and spread the payments out over a longer timeframe | Flexibility of a shorter term to help build equity faster OR reduced monthly payments by spreading the cost over a longer term. |
| Usually a lower interest rate than home equity financing | You can borrow more money - sometimes up to 90% of the value of your home. With a line of credit, interest is paid only on the money you actually use, and you can access it whenever you want without having to reapply. |
When you refinance your mortgage, you're actually replacing it with a brand new mortgage loan. Expect to go through a mortgage application process very similar to that of your original mortgage. Refinancing is often a sound financial choice that can allow you to meet a variety of needs, such as lowering your monthly payments; changing from adjustable to fixed rate loan; taking cash out of your current home equity; or eliminating private mortgage insurance.
Interest Checking
You are welcome to request a free Debit Card for this account. Certain qualification requirements may apply.
If you have an account with us, your routing number is 322276855.
We will send monthly paper statements or eStatements for Members with checking accounts. If you do not have a checking account, you will receive quarterly paper statements or eStatements unless you make electronic withdrawals or deposits (ACH) or have ATM activity associated with this account in a given month. Then we will send you a monthly statement.
IRA Certificates
You can check your balance 24/7 days week by using our automated phone banking, HomeTeller. You can also speak to one of our representatives during normal business hours.
The routing number and transit number for LBS Financial is 322276855.
Mobile Banking
Mobile Banking is a wireless Internet-based service that allows you to bank safely and conveniently from your tablet or mobile device. You can access Mobile Banking by downloading our app through the Apple app store or Google Play store. You do not need to enroll in Online Banking first.
View account balances and share history, view account holds and pending items, see copies of paid drafts, set up account alerts, view eStatements and eDocuments, transfer money, make a loan payment, pay-a-person (PayPal), and pay bills.
Your security is of our top importance. Our Mobile Banking platform uses the same robust security measures that are available in Online Banking. Your password or fingerprint is required every time you sign in to Mobile Banking. We use Multi-Factor Authentication (MFA) which adds an additional layer of authentication. You will receive a one-time PIN for any new devices accessing our systems or for certain changes or transactions made on your account. SSL (secure sockets layer) and 128-bit encryption ensures that your connection and information are secure from outside inspection, making information unreadable as it passes over the Internet.
Mobile Banking is a free service to LBS Financial Members. However, your cell phone carrier may still charge for text and data usage. Check with your mobile carrier for more information.
Mobile Wallet
Google Pay is available with LBS Financial Credit Cards only (we will be launching Google Pay for Debit Cards at a later time). Google Pay is pre-loaded on many android devices (or you can download from the Google Play Store). If you already have your LBS Financial Credit Card in your Google account you can simply add it to Google Pay by confirming a few details, or you can add it in the app- it's as simple as snapping a picture. Simply unlock your phone and tap the app to use Google Pay at any of the over one million store locations throughout the US that accept contact-less payments.
Samsung Pay is available with LBS Financial Credit Cards only (we will be launching Samsung Pay for Debit Cards at a later time). Samsung Pay does not require a special reader--most every terminal will accept Samsung Pay once you set it up on your mobile device by scanning the reader.
To set up Samsung Pay, using your Samsung mobile device, swipe up from the home button. You may also select the Samsung Pay app icon from your home screen or app tray. To authorize payments you simply scan your fingerprint (or enter a PIN). Just hover your mobile device over the in-store reader to pay!
You will need an Apple Pay-supported device with an iOS 8.1 or newer operating system. Depending on the device, you will need to access the Wallet app or Wallet within Settings, then follow the instructions to add your cards. Once you have your LBS Financial Debit or Credit Card set up within the Wallet, just look for the Apple Pay symbol at checkout and hold your device near the contactless reader.
Each device has a different way to complete the transaction so please check the device's manual for instructions. In some cases, you may need to enter a passcode and sign a receipt. Keep your device by the reader until it indicates your payment was accepted.
Once you have your LBS Financial Debit or Credit Card set up, just look for the relevant Pay symbol at checkout and hold your device near the contactless reader.
Each device has a different way to complete the transaction so please check the device's manual for instructions. In some cases, you may need to enter a passcode and sign a receipt. Keep your device by the reader until it indicates your payment was accepted.
Money Market
You can check your balance 24/7 days week by using our automated phone banking, HomeTeller. You can also speak to one of our representatives during normal business hours.
The routing number and transit number for LBS Financial is 322276855.
Motorcycle Loans
When LBS Financial obtains your credit score during the pre-approval process, the Credit Union will determine your loan rate based on your past financial history and credit. Take note that the Credit Union must obtain your credit report personally; they will not accept copies of credit reports from third parties.
Give us a call and we will tell you the payoff amount.
We process most applications within one business day. Applications received over the weekend or holidays are processed the next business day. You may check your status by calling us.
You have options. You can use our Mobile or Online Banking services to pay from one of your accounts at LBS Financial. Use Mobile Deposit within Mobile Banking to take a picture of a check from your other financial institution and apply to your loan payment here. You can also transfer money from another financial institution using LBS Autopay or a number of Bill Pay services from other financial institutions. Mail us a payment or call and pay by phone, just keep in mind there are fees for paying by phone.
Online Banking
Yes, you can export your account information from Online Banking into Quicken. Just click on History from our menu, then select the account for which you would like to view in the drop down. Click on the Export button above the history information to export to Quicken or a CSV, Excel, or OFX file.
There are no limits on how often you can use Online Banking. Visit Online Banking as often as you like.
There are no limits on transfers from LBS Financial Checking accounts or lines of credit. However, Federal Regulation D limits the number of electronic transfers from Savings accounts to a maximum of six per month. This maximum includes transfers made via electronic methods, such as HomeTeller, Online Banking , and through our Call Center.
Yes, joint owners can access the account and we encourage them to enroll separately.
Online Banking is available 24 hours a day/7 days a week. If you need to talk with an LBS Financial representative regarding Online Banking, someone will be available to help you during normal business hours. You may also submit a Secure Message to us through Online or Mobile Banking and we will respond during business hours.
Please submit a Secure Message through Online or Mobile Banking, or call us at 800.527.3328 during normal business hours.
In Online Banking, click on History and click on your Checking account. Enter the check number in the search box under Transaction History. You may also find the checks within the history on your account and click on the check icon to view. If you are signed up for eStatements you may also view your checks directly from the eStatement.
From Online Banking, you can print your account history directly from the History page by clicking on the print button. By opting-in to eStatements, you can also print your statements as needed.
Repeating or recurring transfers are automatic transfers of the same amount of money, from one account at LBS Financial to another account. For example, from your Checking account to your auto loan or home loan. You do not have to re-enter a new transfer each month. They are a great way to make sure you never miss a monthly payment or savings goal.
These transfers can be scheduled for a variety of frequencies, including: daily, weekly, monthly, and annually.
To set up a repeating transfer, click on the “Make a Transfer” button in the left toolbar of Online Banking. Select the account you want the money to come from, and then where you want the money to go to. Enter the amount, and then select "Repeating Transfer" and submit.
In Online Banking, click on "Transfers and Payments" and "Make a Transfer". Choose the account you want to withdraw from and where you want to send the money to. If you are sending to another Member, select "Another Member" under where the money is going, and enter their account number and last name. Enter the amount and submit.
Online Banking is free of monthly service charges. In addition, our Bill Payment service is also available without a monthly service charge.
Most transactions are posted instantly to your account (in real-time) just as if you were to visit one of our branches or called one of our phone representatives. Some signature debit card transactions may show as a hold or pending and may be viewed as a pending item in your overview or account history.
You can access all of your LBS Financial sub-accounts. If you have multiple accounts at the Credit Union, make sure to click on Link Memberships to bring in all accounts for which you are an owner. View our How to Link Memberships video.
Yes. If you have not logged into your account in the last 12 months, your access will be disabled. To regain access, simply call the Credit Union. Your account may also be dormant if you have had no transactions on your account for over 6 months. All of your setups (Multi-Factor Authentication, recurring transfers, account nicknames, etc.) will still be there when we reactivate your account.
Every Member has a unique user name and password. We recommend that you don’t share your user name and password with anyone.
Online Banking uses Multi-Factor Authentication (MFA) to verify your identity. When you access Online Banking from a new device, you will be sent a one-time PIN via email or text.
SSL (secure sockets layer) and 128-bit encryption ensures that your connection and information are secure from outside inspection, making information unreadable as it passes over the Internet
This security protects your use of all the products offered in Online Banking (Bill Payment, eStatements, PayPal, and Popmoney)
Yes, as long as you can access the Internet using a web browser that meets our minimum requirements, you may use Online Banking from any location in the world, 24 hours a day. We recommend accessing through a secure wireless network and not using public Wi-Fi to ensure security on your account.
Yes. Visit our home page to enroll online by clicking on Sign Up near our login box. View our How to Enroll in Online Banking video.
If you have already registered for eStatements, click on eDocuments in the left toolbar within Online Banking. Documents are stored here for up to 18 months. If you have not registered for eStatements: click on eDocuments and switch to electronic for any documents on the list. Then, scroll to the bottom of the page, read the PDF disclosure, copy the code from the disclosure and paste in the box and accept terms. Once you agree, you will have access to the system. You will not have an eStatement ready for you until the next statement period. View our How to Enroll in eStatements video. If you switch from paper statements to electronic statements you will no longer receive a paper statement in the mail. You may always switch back to paper statements if you change your mind.
To reset your password, click on the Forgot Password link below our login box on the home page of our website. You will be required to enter your social security number, account number, and date of birth to regain access to your account.
Most login problems are due to incorrect user IDs and passwords. Our passwords are case sensitive. Be sure you don’t accidentally have your keyboard CAPS LOCK on. Be careful of the caps lock when you set your password as well.
Only the most current versions of Internet browsers are supported for security purposes. Online Banking should work with Internet Explorer, Microsoft Edge, Chrome, Firefox, and Safari. You may also choose to use our Mobile Banking by downloading one of our Mobile apps from the Apple or Google Play stores if you have a tablet or mobile device.
To access your account, you will need the following:
- You must apply from the link in the Online Banking login box that says “Sign-Up”
- Any type of computer, tablet, or mobile device that can access the Internet
- An Internet Service Provider
- A Web browser that meets our minimum specifications
- Your LBS Financial account number
- Your social security number
- Your date of birth
It's easy to sign up. Visit our home page to enroll online by clicking on "Sign Up" near our login box. View our How to Enroll in Online Banking video.
Person-to-Person Payment Service
There is a minimal fee for each transaction. See our current Fee Schedule under Other Fees, Person-to-Person Payments for fee information.
To access PayPal within Online Banking, simply login and select "Make a Transfer". Then choose "Any Phone or Email" to set up a new PayPal Payee and send money. PayPal is also available within our Mobile Banking app within the Send Money section.
Personal Loans
When LBS Financial obtains your credit score during the pre-approval process, the Credit Union will determine your loan rate based on your past financial history and credit. Take note that the Credit Union must obtain your credit report personally; they will not accept copies of credit reports from third parties.
Share Secured Loans Funds can be secured from one or more accounts and can be repaid in one lump sum in one year from borrowing (up to 90% of unencumbered shares) or you may make monthly payments for up to a 5 year** repayment period (up to 90% of unencumbered shares). For Share Certificate Loans, the term of the loan is determined by the maturity date of the certificate—the loan comes due at the same time the certificate matures.
Signature Loans have a maximum repayment period of 5 years*.
Depending on your credit and other factors, you can borrow up to $15,000.
You can borrow up to 90% of the value of your savings account or share certificate. For example, let's say you have a savings account with us with $5,000. Then, your maximum loan would be $4,500.
Phone Banking
Call LBS Financial for assistance. As you become familiar with the sequence for the transactions, you'll enjoy the convenience of banking from your phone using HomeTeller, a FREE service brought to you by LBS Financial Credit Union!
These are the suffixes we use:
Suffix (Sub-Share) Guide
Your CU Account Number - followed by:
- 0 - Regular Shares
- 1 - Holiday Club
- 2 - Vacation Club
- 3 - Special Savings
- 4 - Special Savings
- 5 - IRA Savings
- 6 - Money Market
- 7 - Escrow/Impound
- 8 - Checking
- 9 - Checking
Open-end Loan Suffixes
Your CU Account Number followed by:
- 92 - LBS Financial Classic Visa
- 94 - LBS Financial Classic Visa
- 95 - LBS Financial Gold Visa
- 98 - Primo Home Equity Line of Credit
- 99 - Primo Home Equity Line of Credit
First, give us a call at 800.527.3328 and press 1. You'll be greeted with prompts to help you know where to go next. Here's some helpful tips for navigation:
- Whenever you enter a monetary amount, the decimal point is replaced by an asterisk * — so, $25.00 becomes 25*00 when using HomeTeller.
- When you want to end your call, just enter *# or say "goodbye" and wait for HomeTeller to assign your call a confirmation number. Be sure to record your confirmation number and refer to it if you have any questions concerning that call. You can change your Personal Identification Number for HomeTeller easily by entering the Transaction Code "PIN" or saying "Change PIN" and entering or saying a new PIN number when prompted.
- While on the line with HomeTeller, it is simple to change to another Credit Union Account Number (Transaction Code RAN or say "Re-enter Account Number"). If you have multiple Credit Union Accounts, be sure to sign up for HomeTeller Service for each account.
Pop Money
The money will be received by your recipient within one business day.
Powersports Loans
When LBS Financial obtains your credit score during the pre-approval process, the Credit Union will determine your loan rate based on your past financial history and credit. Take note that the Credit Union must obtain your credit report personally; they will not accept copies of credit reports from third parties.
Fill out an online application, or come see us at any branch.
We process most applications within one business day. Applications received over the weekend or holidays are processed the next business day. You may check your status by calling us.
Yes. On time payments mean a higher credit score. LBS Financial reports borrower, co-borrowers, guarantors, and co-signers payment habits to all three major credit bureaus: Experian, Equifax and TransUnion.
You have options. You can use our Mobile or Online Banking services to pay from one of your accounts at LBS Financial. Use Mobile Deposit within Mobile Banking to take a picture of a check from your other financial institution and apply to your loan payment here. You can also transfer money from another financial institution using LBS Autopay or a number of Bill Pay services from other financial institutions. Mail us a payment or call and pay by phone, just keep in mind there are fees for paying by phone.
Re-order Checks
Please call the Credit Union at 800.527.3328 or visit a branch to order your first box of checks.
The routing number and transit number for LBS Financial is 322276855.
RV & Boat Loans
When LBS Financial obtains your credit score during the pre-approval process, the Credit Union will determine your loan rate based on your past financial history and credit. Take note that the Credit Union must obtain your credit report personally; they will not accept copies of credit reports from third parties.
Fill out an online application.
Savings Accounts
If you work at a local school or college, you are eligible for a Summer Savings account. You can set aside up to $2,000 per month from your paycheck and earn a truly fantastic rate. You'll need to have direct deposit set up to use this account and all contributions must come from your payroll—just contact us to get started.
If you have an account with us, your routing number is 322276855.
We will send monthly paper statements or eStatements for Members with checking accounts. If you do not have a checking account, you will receive quarterly paper statements or eStatements unless you make electronic withdrawals or deposits (ACH) or have ATM activity associated with this account in a given month. Then we will send you a monthly statement.
You are welcome to request a free ATM card for this account. Certain qualification requirements may apply.
Yes. Because of Regulation D restrictions, the following transactions or combination of transactions to another Credit Union account of yours or third party account are limited to six or fewer each month:
- Automatic payments made via the ACH system (also known as pre-authorized electronic funds transfers) from your Share Savings accounts
- Transfers made from Regular Share and Money Market accounts made via CU OnLine (not including loan payments)
- Transfers to other deposit accounts within LBS Financial Credit Union
- Transfers from Regular Share and Money Market accounts to a Checking account to cover NSF checks
- Transfers from Regular Share and Money Market accounts made by telephone
- Transfers to a third party by check, draft or debit card
Send Money
There are no limits on transfers from LBS Financial Checking accounts or lines of credit. However, Federal Regulation D limits the number of electronic transfers from Savings accounts to a maximum of six per month. This maximum includes transfers made via electronic methods, such as HomeTeller, Online Banking , and through our Call Center.
Repeating or recurring transfers are automatic transfers of the same amount of money, from one account at LBS Financial to another account. For example, from your Checking account to your auto loan or home loan. You do not have to re-enter a new transfer each month. They are a great way to make sure you never miss a monthly payment or savings goal.
These transfers can be scheduled for a variety of frequencies, including: daily, weekly, monthly, and annually.
To set up a repeating transfer, click on the “Make a Transfer” button in the left toolbar of Online Banking. Select the account you want the money to come from, and then where you want the money to go to. Enter the amount, and then select "Repeating Transfer" and submit.
In Online Banking, click on "Transfers and Payments" and "Make a Transfer". Choose the account you want to withdraw from and where you want to send the money to. If you are sending to another Member, select "Another Member" under where the money is going, and enter their account number and last name. Enter the amount and submit.
Share Certificates
If the term of the account is three (3) months or less, the penalty is equal to thirty (30) days of dividends.
If the term of the account is less than one (1) year, but longer than three (3) months, the penalty is equal to ninety (90) days of dividends.
If the term of the account is one (1) year or greater, the penalty is the amount equal to one hundred and eighty (180) days dividends.
If the amount withdrawn reduces the principal amount below the stated minimum, we will cancel your Share Certificate and the penalty will apply to the entire balance in the certificate account. The remaining funds will be transferred to your Share Savings account.
You can check your balance 24/7 days week by using our automated phone banking, HomeTeller. You can also speak to one of our representatives during normal business hours.
The routing number and transit number for LBS Financial is 322276855.
Teen Savings & Checking (Age 13-17)
Membership in the Credit Union requires a main savings account. The Teen Savings account is required and must be opened first, as it acts as the Membership account. Opening the checking account is optional.
No. Youth and Teen accounts must be opened at a branch only with the parent/legal guardian present.
Yes. For our Teen Savings account, it is $5, plus a one-time membership fee of $1 (per Member on the account). For Teen Checking, there is a $20 opening deposit (no minimum balance thereafter).
You will need your child's birth certificate, school ID, or California State ID, as well as their social security number. Bring a minimum deposit of $7 ($1 one-time Membership fee per Member on the account and $5 minimum deposit). Parent/guardian must be a joint owner on the account and will also need to bring their government-issued ID and social security number.
Vehicle Loans
When LBS Financial obtains your credit score during the pre-approval process, the Credit Union will determine your loan rate based on your past financial history and credit. Take note that the Credit Union must obtain your credit report personally; they will not accept copies of credit reports from third parties.
If you purchased your vehicle from a dealership, please contact that dealership directly to determine the status of your registration. The dealership is responsible for completing and filing the paperwork necessary for properly registering your vehicle.
If you purchased your vehicle from a private party, please contact the DMV Services Department of the Credit Union.
To initiate a name change, please visit any branch of the Credit Union or contact the DMV Services Department of the Credit Union.
Titles are issued by the State of California DMV, typically within 7 to 10 business days after the date the lien is released by the Credit Union. NOTE: The Credit Union may not release its lien interest in a vehicle for up to 10 days to allow for a check to clear, etc. If an appropriate amount of time has passed and you have not yet received your title, please contact the DMV Services Department of the Credit Union.
Before the Credit Union can release its lien interest in a vehicle, the loan which is secured by the vehicle must be paid in full, including any additional fees and charges (if any). To obtain an immediate release of the Credit Union's lien, the loan must be paid with cash or a Cashier's Check. Upon release of the Credit Union's lien we can issue a Lien Satisfied form which can be used to transfer title to the vehicle. The actual title will be issued by the DMV (see question above).
Title, registration and lien issues vary greatly from state to state. You should contact the Department of Motor Vehicles in your new state of residence to determine what forms may be needed to properly register the vehicle and record the Credit Union's lien. Once you have identified what needs to be done, please contact the DMV Services Department of the Credit Union at 800.527.3328, we will be more than happy to assist you with this process.
You may request a Lien Satisfied for a loan that has been paid in full by contacting the DMV Services Department of the Credit Union at 800.527.3328.
As a major auto lender, the Credit Union participates in the State of California, Department of Motor Vehicles (DMV) paperless title system. This means the Credit Union never holds a physical paper title to secure your loan but rather the lien is recorded electronically with the DMV. When your loan has been paid in full, the Credit Union releases its lien electronically which causes the DMV to issue a paper title which is mailed to the last address of record as known by the DMV. If you changed your address and have not updated the DMV, you may experience a delay in receiving your title. Mailing time for the DMV is typically 7 to 10 business days after the date the lien is released by the Credit Union. NOTE: The Credit Union may not release its lien interest in a vehicle for up to 10 days to allow for a check to clear, etc.
Please call us to get your pay off amount.
The Credit Union requires that all collateral used to secure a loan be properly insured at all times during the life of the loan. Any lapse in coverage, or insufficient coverage, will cause the Credit Union to purchase insurance on your behalf to protect the collateral. We will add the cost of that coverage to the outstanding loan balance, generally resulting in higher monthly payments. If you feel that insurance has been added in error please contact our insurance monitoring department at 800.422.4223 extension 1010. Please keep in mind that any insurance added to your loan is designed to protect ONLY the collateral and does not include personal liability coverage.
Please use the following links to contact a credit bureau: Experian, Equifax and TransUnion.
The Credit Union reports the credit experience of its Members to all three major credit bureaus: Experian, Equifax and TransUnion. If your account relationship is not properly reflected with any one of these credit reporting agencies please contact the Credit Union.
In order to remove anyone from an open loan with the Credit Union, that loan must be rewritten (refinanced) removing the individual from the new obligation. Any consideration for a rewrite will be subject to the Credit Union's normal underwriting guidelines and prevailing rates and terms.
You may make a payment to your loan by transferring from within your LBS Financial account using Online or Mobile Banking, transferring from an account at another financial institution using LBS AutoPay, Visa cash advance from other Visa credit card at a branch, Loan Payment by Phone, mailing your payment or using your other institution's bill payer service
By processing your payment using your checking account at another financial institution through our LBS AutoPay online service (no fees), Loan Payment by Phone service (there are fees for this service, click here for our fee schedule) or you may use your other financial institution's bill payer service.
Yes, we can process your payment by making a transfer from another account at the Credit Union or you can send a payment from another financial institution through our Loan Payment by Phone service (there are fees for this service, click here for our fee schedule).
In order to accurately quote an interest rate to any applicant, the Credit Union must obtain its own credit report; we are not able to use copies of credit reports provided by a Member or third-party.
The Credit Union has a wide variety of loans available for individuals to purchase homes, vehicles, etc. The Credit Union does not offer loans to businesses or loans to individuals where the proceeds will be used for business purposes
You may get "pre-approved" (subject to credit approval) for any type of loan the Credit Union offers. Pre-approvals or "pre-qualifications" are good for up to sixty (60) days from the date of the application. To get pre-approved you may apply online visit any branch or call the Credit Union.
The Credit Union reports to all three major credit bureaus; Experian, Equifax and TransUnion its credit experience with the primary and secondary borrowers on any given loan. If a co-signer is in the "secondary" position on a loan (as is typically the case) then they will have that fact reported to all three credit reporting agencies.
It all depends on you. Getting Credit Union financing directly from a dealer can be more convenient as you only have one stop to make, the dealer is open longer hours and on weekends, etc. However, some dealers may charge you a slightly higher interest rate for this convenience. If you have the time and availability to get financing directly from your Credit Union you may, but not always, get a more favorable interest rate. More importantly, with a Credit Union "pre-approval" you can shop at several dealers, getting the best bottom line price for your new vehicle.
Click here to get an estimate using our Loan Payment Calculator. Don’t forget to estimate your taxes and registration fees into the total cost of the vehicle. Please work with a loan representative at one of our branches or contact our Loan Administration Department for specific loan payment information as it relates to your loan application.
Fill out an online application, or come see us at any branch.
Click here for current loan rates.
We process most applications within one business day. Applications received over the weekend or holidays are processed the next business day. You may check your status by calling us.
Yes. You can apply 24 hours a day, seven days a week by clicking here.
Visa Credit Card
If a suspicious transaction occurs on your card, you will be notified right away.
How will you contact me?
We'll send you a SMS text first (if you have a mobile phone number on file), followed by phone calls to the numbers we have on file for you (including mobile, home and work). If you have not responded, we will then email you.
Emails and texts are sent 24 hours a day, 7 days a week. Phone calls will take place between the hours of 8 am and 9 pm, in your specific time zone.
After hours, a text will be sent, followed by an email. A temporary block may be placed when necessary, and a detailed report fraud report sent to LBS Financial.
We encourage you to make sure your contact info is up to date! If you have any questions or want to update your information, call 800.527.3328.
Yes! No matter how you pay, Visa has you covered with zero liability. Visa’s Zero Liability Policy is our guarantee that Visa cardholders won’t be held responsible for unauthorized charges made with their account or account information.
How it works: Visa chip cardholders can shop worry-free at millions of locations
The cardholder reviews their monthly statement and immediately reports any unauthorized charges to their financial institution.
Once reported, Visa’s Zero Liability Policy requires their financial institution to investigate and resolve things quickly.
Our LBS Financial chip credit cards work everywhere Visa is accepted including:
Chip-activated terminals
Chip cards offer the greatest security when inserted into a chip-activated terminal.
Terminals that are not chip-activated
You may continue to use your card by swiping, because chip cards still have a magnetic stripe on the back.
Online
You may also continue to make online purchases by entering the card number or selecting the card during the checkout process if the card is already on file with that merchant.
ATMs
Chip cards are still accepted at the ATMs you have been using.
Chip cards let you pay with confidence. Every time a chip card is used at a chip-activated terminal, a unique one-time use code is generated for the transaction to be approved. This feature is virtually impossible to replicate in a counterfeit card.
LBS Financial's Visa card accounts come with a 25 day grace period, but it is for purchases only. If you have a cash advance balance, it is subject to interest immediately. If you did not pay your balance in full within the 25 day grace period, you would also be assessed interest.
For example, if the statement is dated April 30, your payment for the total balance would need to be posted on or before May 25 of the same year in order to avoid interest on your purchases.
There is no Cash Advance fee. However, there is no grace period before interest begins to accrue.
Visa Debit/ATM Card
If a suspicious transaction occurs on your card, you will be notified right away.
How will you contact me?
We'll send you a SMS text first (if you have a mobile phone number on file), followed by phone calls to the numbers we have on file for you (including mobile, home and work). If you have not responded, we will then email you.
Emails and texts are sent 24 hours a day, 7 days a week. Phone calls will take place between the hours of 8 am and 9 pm, in your specific time zone.
After hours, a text will be sent, followed by an email. A temporary block may be placed when necessary, and a detailed report fraud report sent to LBS Financial.
We encourage you to make sure your contact info is up to date! If you have any questions or want to update your information, call 800.527.3328.
Yes! No matter how you pay, Visa has you covered with zero liability. Visa’s Zero Liability Policy is our guarantee that Visa cardholders won’t be held responsible for unauthorized charges made with their account or account information.
How it works: Visa chip cardholders can shop worry-free at millions of locations
The cardholder reviews their monthly statement and immediately reports any unauthorized charges to their financial institution.
Once reported, Visa’s Zero Liability Policy requires their financial institution to investigate and resolve things quickly.
Chip Cards let you pay with confidence. Every time a chip card is used at a chip-activated terminal, a unique one-time use code is generated for the transaction to be approved. This feature is virtually impossible to replicate in a counterfeit card.
To reset your Debit Card PIN, please call 866.762.0558 from your primary home phone on your account. For ATM Cards, bring your ATM Card with photo ID to any of our branches to re-PIN.
You can use ATMs at any of our LBS Financial branches for free, as well as CO-OP® ATMs or F&M Bank ATMs. Find an ATM.
Please contact us for more information.
Once authorization has been received, a stop cannot be made. However an affidavit may be filled out if there are fraudulent charges. Contact us for more information.
Depending on your account balance, you may use your LBS Financial Debit Card to withdraw up to $500.00 within any 24-hour period from an ATM. Regular purchases are limited to a maximum of $2,000.00 within any 24-hour period. Premier Members have increased limits.
Both cards let you withdraw money from an ATM, but our Debit Cards are also accepted at any merchant where you see the Visa symbol.
Youth Savings
For Youth Accounts (age 0-12), the parent/legal guardian on the account may get an ATM card (in their name) on the account*. The child cannot get an ATM card in their name until they turn 13 and have a Teen account.
No. Youth and Teen accounts must be opened at a branch only with the parent/legal guardian present.
In Online Banking, click on "Transfers and Payments" and "Make a Transfer". Choose the account you want to withdraw from and where you want to send the money to. If you are sending to another Member, select "Another Member" under where the money is going, and enter their account number and last name. Enter the amount and submit.
You can access all of your LBS Financial sub-accounts. If you have multiple accounts at the Credit Union, make sure to click on Link Memberships to bring in all accounts for which you are an owner. View our How to Link Memberships video.
You will need your child's birth certificate, school ID, or California State ID, as well as their social security number. Bring a minimum deposit of $7 ($1 one-time Membership fee per Member on the account and $5 minimum deposit). Parent/guardian must be a joint owner on the account and will also need to bring their government-issued ID and social security number.
Yes. Because of Regulation D restrictions, the following transactions or combination of transactions to another Credit Union account of yours or third party account are limited to six or fewer each month:
- Automatic payments made via the ACH system (also known as pre-authorized electronic funds transfers) from your Share Savings accounts
- Transfers made from Regular Share and Money Market accounts made via CU OnLine (not including loan payments)
- Transfers to other deposit accounts within LBS Financial Credit Union
- Transfers from Regular Share and Money Market accounts to a Checking account to cover NSF checks
- Transfers from Regular Share and Money Market accounts made by telephone
- Transfers to a third party by check, draft or debit card
